Belgrave Capital Management Ltd. /

Remuneration Disclosure

The Investment Firms Prudential Regulation (‘IFPR”) requires certain disclosures to be made by regulated firms which enable market participants to assess information on a firm’s risks, capital and risk management procedures.  The FCA has implemented some of these requirements through the Prudential Sourcebook for MIFID Investment Firms (‘MIFIDPRU’) and the Senior Management Systems and Controls Sourcebook (“SYSC”).

BCM is considered a Small and Non-Interconnected (“SNI”) MIFIDPRU Investment firm with respect to the IFPR, and as such is subject to the FCA’s MIFIDPRU rules on remuneration (“the MIFIDPRU Remuneration Code”),  which are set out in section 19G of SYSC.  The FCA has created three levels for categorising firms to which different standards apply when considering the application of the MIFIDPRU Remuneration Code. As an SNI firm, BCM falls within the lowest level  ‘Core’ part of the Code only, and so is permitted to dis-apply certain aspects of the MIFIDPRU Remuneration Code.  This disclosure statement has been prepared by reference to the categories of information that the FCA considers should be disclosed by SNI firms.

Remuneration Disclosure 2023